Market Overview

Mid-Day Market Update: Energy Up 1.10%; Biogen Shares Spike Higher

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Midway through trading Tuesday, the Dow traded up 0.18% to 26,874.72 while the NASDAQ fell 0.12% to 8,153.19. The S&P rose, gaining 0.14% to 3,011.05.

Leading and Lagging Sectors

Energy shares climbed 1.10% on Tuesday. Meanwhile, top gainers in the sector included Capstone Turbine Corporation (NASDAQ: CPST), up 13.40%, and Evolution Petroleum Corp. (NYSE: EPM), up 10.70%.

In trading on Tuesday, Communication Services shares fell 0.33%.

Top Headline

Biogen, Inc. (NASDAQ: BIIB) announced that it intends to file a BLA for its early Alzheimer's treatment, aducanumab, after consulting with the FDA.

Biogen shares has plunged in early 2019, following the failure of the company's Alzheimer's program.

Equities Trading UP

Biogen, Inc. (NASDAQ: BIIB) shares shot up 38.49% to $309.53 after the company announced that it intended to file a BLA for its early Alzheimer's treatment, aducanumab.

Shares of Stamps.com Inc. (NASDAQ: STMP) surged 18.98% to $90.58 following the announcement of a partnership with United Parcel Service, Inc. (NYSE: UPS) that would allow the former company's customers to access discounted shipping rates from UPS.

Cision Ltd. (NYSE: CISN) was up, rising 17.99% to $9.97 after the company announced that it had entered into a definite agreement to be acquired by an affiliate of Platinum Equity, in an all-cash deal worth $2.74 billion.

Equities Trading DOWN

TOP SHIPS Inc. (NASDAQ: TOPS) shares tumbled 18.20% to $3.46.

Shares of Howard Hughes Corp. (NYSE: HHC) were down 17.67% to $105.69.

Hasbro, Inc. (NASDAQ: HAS) was down, falling 16.17% to $100.73.

Commodities

In commodity news, oil traded up 1.65% to $54.19, while gold traded down 0.90% to $1,487.20.

Silver traded down 0.75% Tuesday to $17.47, while copper fell 0.51% to $2.633.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.09%, Italy's FTSE MIB Index climbed 0.04%. Meanwhile, the German DAX gained 0.05%, and the French CAC 40 rose 0.17%, UK shares were up 0.68%, while the Spanish Ibex Index fell 0.24%.

Economics

The S&P CoreLogic Case-Shiller 20-city home price index data, year-on-year and month-on-month, will be released at 6:00 p.m. ET.

Posted-In: Mid-Day Market UpdateNews Eurozone Commodities Global Pre-Market Outlook Markets

 

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